ING Direct vs Emigrant Direct Bank

[robby]

Originally Posted by Sweepsplayer

This is the thread that just won't die...

It does seem that way. A lot of good comments in this thread, but it woould take a day for someone new to read through it all. It really is a history of what online banks have been doing these past months.

Why would Emigrant announce they were raising rates later on and just not raise them?

[jmjj215]

Why would Emigrant announce they were raising rates later on and just not raise them?

Maybe they're hoping to get people bouncing over in anticipation of the rate change? A thought.

[BTC]

Originally Posted by fratkid21

YES,

I got my new password ID in the mail from Emigrant today (to use on the new website)...

On the bottom of the mailer, it says "as of July 28 the APY will be 5.15"

I have received nothing and time would seem to be running out.

[joseblanco]

Originally Posted by BTC

I have received nothing and time would seem to be running out.

I just got mine today. It should come this week as its a combined announcement regarding the new website coming this weekend and then the bump in rates the following weekend. Ciao

[okaythen]

what's up with the new login process by both sites..they just improvise it or did someone lose money coz of bad security?

[joseblanco]

I'd say its a hot button topic lately so there maybe an uncoordinated industry wide desire to enhance security to insure image is not tarnished. ED has been planning their upgrades for awhile. ING's is more recent. HSBC also bumped up security a bit. There might be more to it than what is in the public domain, hackers are always challenging security so a good bank should always be seeing improvements in this area to stay one step ahead.

[destinylove]

Everyone says the $25 bonus from ING is one of the biggest differences between the two banks and that's why they chose ING. Couldn't you open an account with ING Direct, get the bonus, then withdraw your money and start an account with Emigrant Direct?

[joseblanco]

Originally Posted by destinylove

Everyone says the $25 bonus from ING is one of the biggest differences between the two banks and that's why they chose ING. Couldn't you open an account with ING Direct, get the bonus, then withdraw your money and start an account with Emigrant Direct?

Bingo!! That way you get free money + best rate, to me differences in the quality of the website GUI are minor and not a selling point.

[zabbkoff]

Quick question: Like many, I've watched ING slowly trail off in the interest rate battle, and would like to open another account (probably HSBC). I was wondering if I can link the ING to the new account directly, or will I get the boot from one or both since I'd be linking rival online banks? Or do I need to link them both to the good ole' brick n' mortar bank as a "middle man?" I'm just hoping to minimize transfer time.

Thanks in advance!

Ben

PS: Though I don't post often, I browse around pretty frequently and would like to thank everyone for sharing their knowledge / experiences!

[jindhal]

You can link HSBC to Emigrant savings but not to ING savings.. ING doesnt allow that. Besides with HSBC you can link either a checking or a savings account and also get an ATM card that you can use to withdraw directly from ur savings...not a feature at any other online savings...is beneficial if you are in NY, DC or parts of NJ.

[zabbkoff]

Thanks jindhal for the quick response! Bummer that I can't link the accounts though. Oh well....

[BTC]

Originally Posted by joseblanco

I just got mine today. It should come this week as its a combined announcement regarding the new website coming this weekend and then the bump in rates the following weekend. Ciao

My letter finally arrived today. I'm so excited I can hardly ****ing wait to see their new site. I hope they went heavy on the orange.

[BTC]

Originally Posted by zabbkoff

I'm just hoping to minimize transfer time.

If transfer time is important, HSBC is by far the slowest amongst them, ED & ING. It could be a design feature to discourage customers from moving their money to a competitor offering slightly higher rates.

[okaythen]

Originally Posted by BTC

My letter finally arrived today. I'm so excited I can hardly ****ing wait to see their new site. I hope they went heavy on the orange.

you got a letter from ING or ED? I think ED will mail you a letter and ING will email you the extra info? or what.? my brother is worried since he is in a long business trip overseas can't wont' be able to get the letter and log in

[BTC]

I got a letter from ED.

[fratkid21]

hey, how do you linke HSBC and ED accounts togehter???? I would like to do this...

and can you link GM to either of these as well?

[genchan]

It seems that emigrant is updating their site. Do you think they will make it as user friendly as ING or just make cosmetic changes?

[joseblanco]

Originally Posted by genchan

It seems that emigrant is updating their site. Do you think they will make it as user friendly as ING or just make cosmetic changes?

They are billing this as a big event. I think they have listened to their customer base, heard their demands and are trying to meet them with a slicker ING like site. I personally do not care much about the website GUI being super slick/friendly as long as I can do basic account administration. However for all the people who still fawn over ING because they are use to its website despite being 65 basis points behind (80 as of 28 July unless ING raises their rates) the combination of a slicker GUI and 80 basis points should motivate them to realize ING is no longer the place for their money. Marketing only keeps me if I'm also not losing money, so ING lost me a long time ago.

[fratkid21]

i still cant get the ED site, isnt it supossed to be up by now?

[BTC]

Originally Posted by fratkid21

i still cant get the ED site, isnt it supossed to be up by now?

I've been in a few times today. They are obviously encountering a few speed bumps.